The latest inflation data surprised to the downside this week, with the October Consumer Price Index beating analyst expectations. It was up 3.2% year-on-year, with a rate of 3.3% expected. Core CPI came in at 4.0%, rather than the expected 4.1%.
This positive news adds further fuel to calls for the Federal Reserve to hit pause on further rate increases. It’s also dampened both the U.S. dollar index and Treasury yields, allowing the bulls to gain ground. Gold prices had increased by more than £13 ($17) by midday yesterday (Tuesday) on the back of the data reveal. Don’t wait for more gains before committing. Buy now.
